Information about a Featured Project in Hungary

Transcription

1 Information about a Featured Project in Hungary

2 Map display of the location Europe and Hungary Hévíz-Nemesbük and the Project site

3 Hévíz-Nemesbük Thermal Project Summary Hungary is famous for its excellent thermal- and spa facilities. However, the Lake Hévíz is world-wide known due to its unique facilities. This location may thank its popularity of many decades to the healing thermal waters for over two dozens of diseases, to its wonderful natural environment and its hospitality of great traditions. The area is a worthly candidate of the honourable title UNESCO World Heritage. At Nemesbük, near Hévíz, surrounded by the pure and undisturbed nature we intend to establish a luxury hotel based on the therapeutic and recreational utilization of thermal water. The 4-5* hotels at Hévíz reach a utilization rate of % and these are no more able to satisfy even more sophisticated demands. A unique feature of the project is that its balneological, therapeutical background is provided by the Semmelweis Medical University of international reputation. The Hévíz-Nemesbük Thermal Real Estate Development Ltd. belonging to the First Hungarian Real Estate Development Incorporation group purchased at Nemesbük, near Hévíz, the areas necessary to realize the project with a thermal water extraction option. Preparation of the project has been made: By means of an architectural tender we have chosen the architectural design studio who dispose over considerable practice in hotel design projects. We have let working out the construction licence plans and possess with a legally binding construction licence. We have obtained the establishment permission of thermal water wells providing supply to the medical ficilities and let them be executed. The documents substantiating the project have been completed (feasibility study, environmental impact survey, video presentation, etc). The purchase of the real estate as well as the entire preparation of the project has been effcted by own contribution. In order to start the investment as soon as possible now we are taking steps to involve an investment and an operating partner.

4 The activity to be developed The area subject to the development project is located about 3 km near Hévíz, having a unique panoramic view on the town and Keszthely bay, part of the western part of Lake Balaton. The climate of the region is sub-mediterranean, the region is encompassed by a forest from both east and west. The slight south-east slope of the horseshoe shaped real estate lying on appr. 19 hectares ensures an undisturbed panorama from the facilities to be built up. The architectural classification of the real estate is a setttlement centre region of institutional area with huge green surface, providing the build-in conditions necessary for the project requirements. The necessary public utilities are available. The area can be approached via the M7 (E71) highway from Budapest or directly by flight from the Sármellék (FlyBalaton) airport located at 13 kms distance. The location, due to its exceptional features, besides the development of traditional tourism, to be achieved by the contribution of the Semmelweis University based on the curing thermal water, to accept components of therapeutical, educational and conference toursim as well. The Hévíz-Nemesbük Thermal Real Estate Development Ltd. is the owner of real estates being free from claims-, encumbrances- and lawsuits. The company has a consolidated situation and is not involved in any other activity but the preparation of the project. The cooperation of the Project Company and the Semmelweis University is regulated by a long-term exclusive contract. The Company is owned by Hungarian natural persons. The management is provided by the General Assembly, incorporating the circle of owners as well as by the Managing Director, whereby the touristic and therapeutical background is provided by expert specialists of considerable professional reputation. The Company Group has a remarkable experience and practice in project preparation, real estate development and investment organization. Target of the development is, based on the unique location, the natural environment and facilities, to establish a thermal water based therapeutical, educational and recreational centre of the highest standards at Hévíz-Nemesbük, including the major elements below: ***** Luxury hotel with 246 room and 111 apartment units and a conference centre suitable for the reception of at least 800 persons, offering full-scale therapeutical and wellness services. Research-, educational-, training and rehabilitation centre of international attraction, where all special areas representing the theoretical and practical utilization of balneology should might find their place. This program shall be realized upon the recommendation of the European Union jointly with the Semmelweis University. Villa Park, about 30 units of different size with the option of recoursing the thermal water based services.

5 The development area is located at Hungary s best known thermal water spa resort, Hévíz, world-wide appreciated for its healing facilities, at the same time in an undisturbed natural environment. The Hévíz thermal water and the therapeutical features based on this are well-known and the booking rate of hotels of high standards exceed 75% on a complete year basis and the spendings of guests amounts to appr. the double of the national average. The demand for unique featured touristic units with the highest quality standards is increasing world-wide which may ensure a safe market and a favourable return for the project. At the same time luxury hotels in Hungary are mainly concentrated in Budapest, there are only 4 hotels of this category in the province, the SAS Radisson at Bükfürdő, the Palace Hotel at Parádsasvár, the Lotus Therme at Héviz and the Hotel Spirit at Sárvár. This kind of engagement of the Semmelweis University is unique in the european practice and at the same time enabling the theoretical and practical training and education of specialists (balneologists, rheumatical specialists, wellness instructors, masseuses) for the service of which an increasing demand can be observed at home and abroad, too. The cooperation with the Semmelweis University lends the project a unique attraction which provides a guaranteed quality, reputation and credibility transmitted by participants of this kind of education from all around the world. The training, integrated into the educational system of the Semmelweis University beyond the fact that it may improve the reputation of the institution is suitable to contribute to the balanced and efficient management of the facilities. The project has good chance to take part in numerous development tender processes of the European Union and it may be the Flagship of the currently launced New Széchenyi Plan. The project possesses over the necessary thermal water contingent and wells serving its extraction, which are - in respect of the medical characteristics the same as those of the Hévíz basic components, therefore they are suitable and recommanded to cure at least a dozen of various diseases, from rheumatic diseases to gynecological complaints. The Municipality of Hévíz and Nemesbük widely support the realization of the project, since it might increase the touristic attraction of the region, create new workplaces and provides new sources of revenue. The approachability of the object is getting more advantageous, since the M7 highway section has been extended to the border and the capacity of the Sármellék Airport is also being widened. Strengthes of the Project

6 Main technical data of the facility FUNCTIONAL UNITES NET SURFACES M2 LUXURY HOTEL***** ROOMS STANDARD APARTMENTS EXTRA APARTMENTS 987 TIME SHARE APARTMENTS COMMUNICATION AREAS AND STAIRCASES CHAMBER-MAID ROOMS 457 LOBBY, SALOON, CIGAR ROOM RESTAURANT, WINTWERGARDEN WELLNESS, THERAPY MUD CURES 438 SOTE MEDICAL THERAPY UNIT ADVENTURE BATH FITTNESS, AEROBIK 176 THERMAL BATH, SAUNAS, HAMAM CONFERENCE CENTRE WINE CELLAR 371 NIGHT CLUB 291 SQUASH FIELDS 162 MANAGEMENT OFFICES 546 PERSONNEL DINING, STORES 726 DEEP GARAGE CUISINE 744 SERVICE 662 ECONOMIC SERVICE UNIT 455 LAUNDRY, STORES 156 PERSONNEL DRESSING ROOMS 695 MACHINERY WATER SURFACES INDOOR OUTDOOR 720 SPORTS COURT VILLA PARK***** 5 000

7 INVESTMENT DATA INVESTMENT EUR HUF Land, Building permits, Plans, Site Preparation Construction, equipment, costs Current assets & Operational Costs Reserve TOTAL CONSTRUCTION COSTS Edifices Machinery, equipment TOTAL SOURCES Equity Credit TOTAL EQUITY Land, Building permits, Plans, Site Preparation Shareholder contribution TOTAL

8 INVESTMENT REQUITAL year 0 year 1 year 2 year 3 year 4 year 5 year 6 year 7 year 8 year 9 year 10 year 11 year 12 year 13 Earnings after taxes+value loss Invested amount Cashflow Cumulative Cashflow Expected yield % 6,00% Net present value (NPV) Internal rate of return #SZÁM! #SZÁM! #SZÁM! -27,645% -16,845% -9,538% -4,367% -0,464% 2,449% 4,675% 6,16668% 7,39022% 8,39985% Requital 11. year Requital

9 Images of the facility

10 Facades of the facility

11 Outdoor pools of the facility

12 Indoor pools of the facility

13 Lobby of the facility